The global pipeline monitoring systems market is segmented on the basis of pipe, technology, end user, and geography.
PORTLAND, OR, UNITED STATES, September 27, 2021 /EINPresswire.com/ — The factors that drive the growth of the pipeline monitoring systems market are increased oil & gas leakages, government regulations concerning safety, and higher need to prevent storage tanks from natural disasters. In addition, high investments in pipeline infrastructure acts as an opportunity to the pipeline monitoring systems market growth. However, political instability is expected to impede the market growth.
The global pipeline monitoring systems market size was valued at $4,514 million in 2016, and is estimated to reach at $7,371 million by 2023, registering a CAGR of 7.5% from 2017 to 2023.
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Non-metallic pipe is the most commonly used pipe in the pipeline monitoring systems industry as it costs lower than the metallic pipe and requires low maintenance. However, metallic pipes are expected to exhibit the highest growth rate such pipe types are stronger and more fracture resistant than non-metallic pipes. Therefore, several petroleum companies use metallic pipes for better transmission of water and sewage.
Top 10 Key Market Players
Honeywell International Inc.
Perma Pipe Inc.
Huawei Technologies Co. Ltd.
BAE Systems, Inc.
This report provides an in-depth analysis of the global pipeline monitoring systems market to identify the potential investment pockets.
It outlines the current trends and future scenarios to determine the overall market potential and gain stronger market foothold.
Key drivers, restraints, and opportunities and their detailed impact analysis are elucidated.
Quantitative analysis of the market from 2017 to 2023 is highlighted to recognize the financial competency of the market.
Porters Five Forces model illustrates the threat of new entrants and substitutes and strength of the buyers and suppliers.
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Key Market Segments
Magnetic Flux Leakage Technology
Water & Wastewater
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Source: EIN Presswire